{"id":52513,"date":"2022-07-11T04:30:39","date_gmt":"2022-07-10T18:30:39","guid":{"rendered":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/?p=52513"},"modified":"2022-07-05T16:18:14","modified_gmt":"2022-07-05T06:18:14","slug":"city-back-in-black-ahead-of-big-build","status":"publish","type":"post","link":"https:\/\/timesnewsgroup.com.au\/geelongtimes\/news\/city-back-in-black-ahead-of-big-build\/","title":{"rendered":"City back in black ahead of big build"},"content":{"rendered":"

THE City of Greater Geelong will deliver more than $200 million in infrastructure spending while passing on a maximum-allowed rate increase in a balanced budget this financial year.<\/p>\n

Councillors unanimously adopted the 2022-23 budget at a council meeting last week, which predicted a $107,000 surplus from its $558.4 million spending plan.<\/p>\n

The city has passed on the maximum-allowed 1.75 per cent rate increase as part of this year’s budget, which will deliver a $206.5 million capital works program.<\/p>\n

Resident rate bills could rise by more than the state figure, due to surging property values and a new rates strategy that shifts the ratepaying burden away from businesses and onto homeowners.<\/p>\n

“Council has worked hard to return the budget to a break-even position, especially as we deal with increased costs of service delivery and high demand in our growth areas,” Geelong mayor Peter Murrihy said.<\/p>\n

“We have done this while rolling out the largest capital program in the city’s history over a two-year period, which will drive private investment and renew our huge asset base.”<\/p>\n

The city main change from a draft budget released in April<\/a> was to bring forward by two years $1.3 million for the design of a drainage project at Lara’s Kyema Drive.<\/p>\n

The council received 63 submissions on the Lara project from a total of 96 during its public exhibition process.<\/p>\n

“The feedback clearly showed strong demand for the drainage upgrade in Kyema Drive, so we’re pleased to be able to get that underway as soon as possible,” Windermere Ward councillor Anthony Aitken said.<\/p>\n

“There was merit in other projects that were presented to us, so we’ll be looking at ways we can include them in upcoming works programs.”<\/p>\n

Cr Aitken, who is also the council’s finance portfolio chair, said the city must remain responsible to stay in surplus in coming years.<\/p>\n

At last week’s meeting he again called for reform to the Victorian government’s Fair Go Rates Cap, which he said hamstrung the city’s ability to meet service and infrastructure demands for a rapidly growing municipality.<\/p>\n

Cr Aitken said savings made in future budgets would likely go towards preparing Geelong for its part in hosting the 2026 Commonwealth Games.<\/p>\n

The city has not allocated any money to the Games in its forward estimates through to 2025-26. The state government allocated $2.6 billion to delivering the Games across regional Victoria in its budget this year,<\/p>\n","protected":false},"excerpt":{"rendered":"

THE City of Greater Geelong will deliver more than $200 million in infrastructure spending while passing on a maximum-allowed rate increase in a balanced budget this financial year. Councillors unanimously adopted the 2022-23 budget at a council meeting last week, which predicted a $107,000 surplus from its $558.4 million spending plan. The city has passed […]<\/p>\n

Read More…<\/a><\/p>\n","protected":false},"author":195,"featured_media":46551,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[7],"tags":[],"post_folder":[],"class_list":["post-52513","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"acf":[],"yoast_head":"\nCity back in black ahead of big build - Geelong Times<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/timesnewsgroup.com.au\/geelongtimes\/news\/city-back-in-black-ahead-of-big-build\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"City back in black ahead of big build - Geelong Times\" \/>\n<meta property=\"og:description\" content=\"THE City of Greater Geelong will deliver more than $200 million in infrastructure spending while passing on a maximum-allowed rate increase in a balanced budget this financial year. 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